Product Details
Bank Name
CSB Bank
Account Name
CSB Senior Citizen Independence Savings Account
Account Type
Saving
Interest Rate
Up to and including Rs 1 Lakh-2.10%,Up to and including Rs 25 Lakh-2.75%
Free Debit Card
RuPay Platinum International Debit Card
Account Opening Fees
0
Annual Maintenance Fees
0
Minimum Account Balance
Minimum Average Monthly Balance to be maintained is Rs. 10,000
Debit Card Charges
NIL
NEFT Charges
Free through net banking.
IMPS Charges
Free through net banking.
Fees and Charges
CSB Senior Citizen Independence Savings Account
Special Features
Up to 100% discount on a locker rental.
Rs 10 Lakhs free cash deposit limit per month.
Complimentary airport lounge access (once per quarter).
Waiver of annual maintenance charges on Demat A/c for the 1st year.
ATM cash withdrawal limit of Rs 75,000 per day.
Eligibility Criteria
Only senior citizens can open this account.
Benefits
Features, Eligibility and Benefits
Pros & Cons
Pros
The debit card provides several benefits such as comprehensive insurance cover of Rs 2 lakhs, unlimited free ATM transactions at any CSB bank ATM, Rs 200 off on PharmEasy/Netmeds on a minimum spend of Rs 1100 (once per quarter), complementary/discounted health check-up facility - SRL Diagnostic/Thyrocare (once a quarter), 20% instant discount up to Rs 100 on recharge/bill payments (minimum order value of Rs 129, once per month) on Amazon Pay, 20% instant discount upto Rs 100 with minimum order value of Rs 129 (Once a month, on Fridays only) on Swiggy.
Complimentary airport lounge access (once per quarter).
Free RuPay Platinum International debit card.
Free NEFT/RTGS transfers (online).
Cons
Low interest rates.
No concession for processing charges of loan for senior citizens.
Application Procedure
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Product Review
Account Opening and Procedure
How to open an Account?
Steps to Open the Account:
Visit a CSB Bank Branch: Locate your nearest branch.
Request Account Opening Form: Obtain the specific form for the Senior Citizen Independence Savings Account.
Fill the Form: Provide accurate and complete information.
Submit Documents and Initial Deposit: Submit the filled form, required documents, and the initial deposit.
Account Activation: The bank will review your application and activate your account.